Standoff

  • At noon the Dow vascilates between down 50 and up 20.
  • The internals are almost even but tilting towards negative.
  • The 2:30 hour, again, may tell us a definitive direction.
  • I bought some TWM, as suggested earlier, as the market leans towards down.
  • But a few buy programs could bring everything even in a hurry.
  • Like everyone else I am rooting for a flat or slightly positive finish.  That would be just fine.
  • Think bonds could be ripe for yet another bounce.  With the Swiss joining Bank of England buying-in long dated governments am thinking pressure could build on Fed to follow.  Would use TLT for that.